Chapter 61 – (MH Future Security (1))
Oh Han-seong continued speaking amidst the heavy atmosphere of the shareholders’ meeting.
“The issue we discovered concerns Vice Chairman Bae Sung-hwan. I’m not sure if he himself is aware, but we have learned that Vice Chairman Bae Sung-hwan is not the biological son of Chairman Bae Young-chul.”
At that moment, Bae Sung-hwan, who had been quietly listening, shot up from his seat and snatched Kim Sang-hoon’s microphone.
“What kind of nonsense are you spouting?!”
“We received an anonymous tip. And we also have the genetic test results to prove it.”
The room erupted in commotion.
But Bae Sung-hwan was the eldest son whom Chairman Bae Young-chul had cherished and raised for a long time. He had risen to the position of Vice Chairman, so it was difficult to believe Oh Han-seong’s words at face value.
“Does that prove anything? That sort of thing can be fabricated!”
Watching from behind him, Bae Min-sook also found it hard to believe.
Of course, if Bae Sung-hwan lost his qualifications, it would be the best possible outcome for her. However, having lived as siblings for over fifty years, she had never once entertained such doubts.
Even so, Oh Han-seong replied with a calm expression.
“Madam Lee Young-hee, the late Chairman Bae Young-chul’s wife, gave birth to a daughter at the time. But the baby was swapped with the son of a surrogate mother who had been prepared in advance.”
The murmurs of the crowd grew louder.
Bae Sung-hwan’s face contorted further as he shouted back.
“How dare you disrupt the shareholders’ meeting with such lies! Has TSF really become such an outrageous place?!”
“We have the birth records from that time, the obstetrician who oversaw the delivery, former Secretary General Kim Jang-seok who assisted Madam Lee Young-hee, and even the true daughter herself.”
At that moment, the woman sitting beside Oh Han-seong, wearing a hat and a mask, stood up.
As she removed her hat, her face was revealed. Countless people gasped in shock upon seeing her.
Her eyes, nose, and lips—the very features of her face—looked strikingly identical to those of Bae Young-chul’s daughters…
Bae Min-sook, Bae Min-seon, and Bae Min-joo.
Oh Han-seong’s claims were becoming increasingly credible.
For Bae Min-sook, this was the perfect opportunity.
* * *
【[Breaking News] Eldest son of Baesung Trading, Bae Sung-hwan, revealed not to be the biological son of late Chairman Bae Young-chul… Claim raised by TSF Investment representative Oh, based on an anonymous tip and investigation…….】
【Chairman Bae Young-chul passes away… With allegations that Vice Chairman Bae Sung-hwan is not a biological son… Baesung Trading’s board of directors now backs the second son, Bae Sung-wook, CEO of Baesung Cement, as the new candidate… Possibility of disqualification for Bae Sung-hwan increases, with the validity of the will also under review…….】
Baesung Trading faced a wave even greater than the death of Chairman Bae Young-chul himself.
Of course, whether Bae Sung-hwan was a biological son or not did not immediately invalidate his shares and position.
But the board of directors could suspend his authority as the next chairman.
Furthermore, the owner family was moving to strip him of his rights through a lawsuit.
Other companies also became busy. With a giant like Baesung Trading in turmoil, there was much profit to be gained.
MH Group was no exception.
In Myung In-chul’s office, Myung Un-seok came to discuss the matter.
“Father. Did you know about Baesung Trading’s situation in advance?”
At that question, Myung In-chul fell into thought.
He had never imagined that an issue like Bae Sung-hwan’s parentage would erupt.
Because of it, the situation was unfolding exactly as Kwak Chi-young from TSF Investment had predicted.
Baesung Trading had fallen into management difficulties due to its internal strife.
At the same time, incidents were erupting across its subsidiaries, and its stock price was falling day by day.
“…Somewhat.”
“How did you know?”
“That much is not for you to know.”
Myung Un-seok also had his suspicions.
The dealings with Yoo Ji-young.
Through them, he had planned to raise Bae Han-joon’s father, Bae Sung-hwan, to the chairman’s seat.
But now, in Baesung Trading, Bae Han-joon was completely cornered since his father’s very identity had been denied.
If he had followed his father’s words and pushed through with the original plan, he himself would have met the same fate.
“Father, if you’ve been scheming behind Grandfather’s back, shouldn’t I at least have the right to know?”
Myung In-chul’s brows twitched as he gazed out the window.
“You don’t need to do anything. Just stay quiet and everything will fall into place.”
“How can I just sit still? Even now, that guy is……!”
Myung Un-seok nearly mentioned Baek Shin-woo’s name but stopped, realizing it would make him sound too petty.
Of course, Myung In-chul knew exactly what his son had been about to say.
“Are you restless because of Baek Shin-woo?”
“…Yes. Honestly, I am. I don’t even know what Grandfather is thinking.”
MH Future Security had been promoted to a subsidiary without any issues, and Baek Shin-woo had become its CEO.
On top of that, even 1% of MH Holdings’ shares had been transferred to him, making it difficult for Myung Un-seok to shake off his anxiety.
“All you need to do is trust your father and wait.”
“Father! You just keep saying the same thing over and over! How can I sit back and watch in a situation like this?”
Myung In-chul let out a deep sigh.
“What exactly do you think you can do now?”
“Anything!”
“Do you even realize how wide the gap has grown between you and Baek Shin-woo? If you want to talk big, then accomplish something real first!”
Of course, it wasn’t as though Myung Un-seok had done nothing.
He had made what he thought were good plans and taken action in various ways, but the results had never turned out well.
“…I want to. I really do.”
“There’s a project in MH Electronics tied to China. It’s a contract allowing Bifo in China to borrow our patented technology.”
Myung Un-seok had recently been appointed as Head of Future Technology Planning Division 3 at MH Electronics.
Naturally, he was familiar with matters related to technology patents.
“The term is three years, with costs set at a minimum of 200 million yuan annually, I heard.”
That was about 35 billion won in Korean currency.
Not a small amount, but since the other party was a Chinese company, there were many sensitive aspects.
“I’ll switch the person in charge to you. Make sure it goes through without a hitch, and then I’ll give you what you want.”
It was already a project that had gone through considerable negotiations.
At that stage, changing the person in charge was, to anyone, just putting a spoon on the table.
“Understood. Let’s do it that way. I’ll take my leave now.”
Myung Un-seok found it hard to push back further. So he answered and quietly stepped out.
Left alone, Myung In-chul reflected once more on the Baesung Trading situation.
From here on, TSF Investment’s course of action was simple.
On the surface, they would appear to support the second son, Bae Sung-wook, while continuously buying up the declining shares of Baesung Trading and its subsidiaries, gradually driving out the owner family entirely.
The estimated funds required were about 1 trillion won. Originally, Baesung Trading’s market capitalization exceeded 2 trillion. With less than half that amount, an entire group could be swallowed whole.
“If I’m not careful, I’ll end up the same way.”
Knock, knock—
With a knock, Park Sang-kyu peeked in.
“President, Executive Director Lee Byung-jin is here.”
“Send him in.”
It was a scheduled visit. When he came in and sat down, Myung In-chul also settled into his chair and spoke.
“You must have a lot on your mind lately.”
“…Well, somewhat.”
At the last meeting, Lee Byung-jin had merely managed to stir up Chairman Myung Joong-hwan’s temper.
Because of that, Im Hee-yeon had set the General Audit Office in motion, turning both headquarters and all subsidiaries upside down.
Naturally, the resentment of other executives and company presidents fell squarely on Lee Byung-jin, the man who had triggered the general meeting.
“I asked to see you because I have a request.”
“Please, go ahead.”
“How about you temporarily stay at MH Future Security?”
For a moment, Lee Byung-jin’s expression turned cold.
“Are you asking me to work under Baek Shin-woo?”
Currently, MH Future Security had no executives.
In order to run the company, it couldn’t rely on Baek Shin-woo alone as the final decision maker, so an executive position was necessary.
“I did have some executives in mind, but I thought you would be more reliable than them.”
“But would CEO Baek Shin-woo accept that?”
The immediate task for Baek Shin-woo, who had become CEO of MH Future Security, was establishing his footing within the subsidiaries.
And the foundation of that came most heavily from the proportion of executives. It was obvious he would want to seat someone he could absorb into his faction.
“In the end, it’s still a subsidiary. As long as headquarters exists, he cannot fill every executive seat on his own.”
“But CEO Baek Shin-woo owns 31% of MH Future Security’s shares. That’s more than enough authority.”
The remaining 69% belonged to MH Group.
The capital investment had been divided proportionately between Shin-woo and Myung Joong-hwan when the company was formed.
“But headquarters holds the voice for that 69%. And if you personally volunteer to go to MH Future Security, wouldn’t the Chairman be pleased?”
At present, Lee Byung-jin was under a poor impression with Myung Joong-hwan.
His position wasn’t in immediate danger, but for the future, he needed to make some achievement to turn misfortune into fortune.
“…Alright, I’ll do that.”
“Investment and management are entirely different, after all. If you take this opportunity to bring in investments, it would help cause some of Baek Shin-woo’s shares to slip away.”
Every company needs operating funds. Of course, MH Future Security was unlike an ordinary company—it earned profits through investments. Though it carried little burden of inventory, it bore great risks since it had to manage and invest client funds.
“CEO Baek Shin-woo will also need initial operating funds, so as long as I attract the right investment opportunities, it shouldn’t be difficult.”
“I’ll support you as well.”
It seemed the matter was ending on a warm note. Just then, Park Sang-kyu, who had stepped out for a phone call, returned.
“President. It seems some complicated developments have arisen.”
“What’s going on?”
After hesitating a moment, Park Sang-kyu slowly opened his mouth.
“There’s word of a research collaboration between MH Future Security and MH Tech.”
“What? For what reason would MH Future Security be involved?”
Investment and defense industry.
They were subsidiaries of completely different nature. There was no reason for them to be linked.
“Apparently, Division Head Jang Man-soo of MH Future Security filed a patent for a technology.”
“Jang Man-soo? A patent?”
“Yes. Something called R2ED, a radar radiation expansion technology. MH Tech’s researchers judged that, beyond commercialization, it’s a groundbreaking technology.”
Myung In-chul had previously looked into Jang Man-soo.
From his personal records, there was nothing special—just that he showed up to work every day in bizarre fashion.
He couldn’t understand how someone like that had come up with a technology that MH Tech judged to be commercially viable.
“Why am I only hearing about this now?”
“Apparently, because the Chairman was directly involved. Other than the lead researcher from MH Tech who participated in the technical audit, no one knew.”
If news had spread only now, that meant the matter was already essentially settled.
“So that’s why the Chairman was backing Baek Shin-woo so much?”
“In other words, the Chairman worked hard not to lose CEO Baek Shin-woo.”
Even Lee Byung-jin could see and understand the situation.
At this, Myung In-chul gave a bitter smile and nodded.
“Seems there was an unexpected wild card hidden. That idler Jang Man-soo… and now he’s got defense technology, of all things.”
—
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